The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Should CSE be like this? Whose FAULT is it?
Today at 2:33 pm by Ethical Trader

» Debenture issues
Sat Jul 14, 2018 10:34 pm by Danidu

» Quick Checklist for Selecting a Stock
Sat Jul 14, 2018 11:42 am by slstock

» Dividend Announcement
Fri Jul 13, 2018 10:06 am by Rana

» Hello and CSE ?
Fri Jul 13, 2018 10:05 am by slstock

» Films - To Watch List
Fri Jul 13, 2018 8:15 am by yellow knife

» කොටස් වෙළෙඳපොළේ ආයෝජනයේ දී දේශපාලන සබඳතා අනාවරණය අනිවාර්යයි
Thu Jul 12, 2018 9:02 pm by spw19721

» ගුහාවේ සිරවී සිටින දරුවන් පිටතට ගෙන්න මාස 04 ක් ගතවෙන ලකුණු
Wed Jul 11, 2018 7:43 am by serene

» කොළඹ කොටස් තවමත් අවුරුදු 8 කට කලින් තිබුණු තැනමයි
Wed Jul 11, 2018 7:37 am by serene

» 2018 ජූනි මාසයේ ඩොලර් මිලියන 434.53 කින් දී සංචිත වැඩි වුණේ මෙහෙමයි
Tue Jul 10, 2018 4:00 pm by Ethical Trader

» නිවාඩුවට රට යනවාටත් බද්දක්. සියලු වාහන හිමියන් බදු ගෙවිය යුතුයි – දේශීය ආදායම් කොමසාරිස්
Mon Jul 09, 2018 5:49 pm by Ethical Trader

» අනං මනං! #/+?.<>
Mon Jul 09, 2018 2:14 pm by yellow knife

» අටවන වරටත් ශ‍්‍රී ලංකාවේ හොඳම බැංකුව ලෙස ෆයිනෑන්ස් ඒෂියා කොමර්ෂල් බැංකුව තෝරාගනී July, 7, 2018
Mon Jul 09, 2018 11:53 am by nihal123

» ETI මිල දී ගන්නේ සිංගප්පූරු – ශ්‍රී ලංකා හවුල් සමාගමක්
Mon Jul 09, 2018 7:57 am by serene

» සුළු හා මධ්‍ය පරිමාණ ව්‍යවසායකයින් වෙනුවෙන් කොළඹ කොටස් වෙළෙඳපොළේ EMPOWER පුවරුව දියත් කෙරේ
Fri Jul 06, 2018 9:26 pm by Ethical Trader

» Sri raises fuel prices, future revisions weekly
Fri Jul 06, 2018 6:35 pm by Ethical Trader

» Sri Lanka holds rates, amid external jitters
Fri Jul 06, 2018 10:35 am by Ethical Trader

» Sri Lanka rupee weakens, stocks gain 1.22-pct
Fri Jul 06, 2018 10:34 am by Ethical Trader

» Sri Lanka's SMEs get chance to raise equity on liberalized board
Fri Jul 06, 2018 8:07 am by The Invisible

» Yahoo බිඳ වැටෙයි
Thu Jul 05, 2018 6:42 pm by Ethical Trader

» මුල් මාස 06 දී ලක්ෂ 11 ½ ක සංචාරකයින් ඇවිත්
Thu Jul 05, 2018 6:41 pm by Ethical Trader

» ධම්මික ශ්‍රී ලංකාවේ මුල් වරට Artificial Intelligence යොදා ගත් අධ්‍යක්ෂ මණ්ඩල රැස්වීමක් කැඳවයි
Thu Jul 05, 2018 8:01 am by serene

» තව වසර 3 කින් කොළඹ ඒක පුද්ගල ආදායම ඩොලර් 12,650 යි
Wed Jul 04, 2018 5:39 pm by Ethical Trader

» රාජපක්ෂ ආධාරකරුවන් ශ්‍රී ලංකාවේ මාධ්‍යවේදීන් බියවැද්දීම වැරදියි - New York Times
Tue Jul 03, 2018 5:32 pm by Ethical Trader

» කොමර්ෂල් බැංකුවට නව කළමනාකාර අධ්‍යක්ෂවරයෙකු සහ ප‍්‍රධාන මෙහෙයුම් නිලධාරියෙකු පත්කෙරේ
Tue Jul 03, 2018 5:27 pm by Ethical Trader

» Sri Lanka's ETI Finance able to settle small depositors if liquidated
Mon Jul 02, 2018 5:30 pm by Ethical Trader

» Cartoon of the day...
Sun Jul 01, 2018 9:10 pm by pee ratio

» උදයංග වීරතුංගට "ස්වේච්ඡාවෙන් ගමන් යන්න බැහැ"
Fri Jun 29, 2018 5:19 pm by Ethical Trader

» Sri Lanka s state hotel sales to go ahead next month: Finance Minister
Fri Jun 29, 2018 5:14 pm by Ethical Trader

» මාස 02 කදී කොටස් වෙළෙඳපොළ සියයට 4 කින් කඩා වැටිලා
Thu Jun 28, 2018 5:59 pm by Ethical Trader

» කොටස් වෙළෙඳපොළේ ආයෝජන ඉවත් කර ගැනීමට ජාතික ඉතිරිකිරීමේ බැංකුව යෝජනා කැඳවයි
Thu Jun 28, 2018 11:14 am by Ethical Trader

» සුරන්ගනීට මාලු ගෙනාවා - FIFA - Russia - 2018
Mon Jun 25, 2018 11:29 am by Ethical Trader

» Enterprise Sri Lanka to give extra credit support for women, disabled soldiers
Sun Jun 24, 2018 8:42 pm by sashimaal

» HUNA.N0000
Sat Jun 23, 2018 11:42 am by pjrngroup

» 2018 මැයි මස උද්ධමනය සියයට 2.1 ක් දක්වා ඉහළට
Sat Jun 23, 2018 8:31 am by Ethical Trader

» Laughter the Best Medicine
Fri Jun 22, 2018 8:11 pm by nihal123

» Sri Lanka is recovering, Central Bank threat looms: Bellwether
Fri Jun 22, 2018 10:20 am by The Invisible

» Sri Lanka's new forex law gets IMF thumps up
Fri Jun 22, 2018 10:16 am by The Invisible

» EU slaps tariffs on US as trade war erupts
Fri Jun 22, 2018 10:14 am by The Invisible

» Top monk asks Sri Lanka’s ex-defence chief to return as ‘Hitler’
Fri Jun 22, 2018 10:12 am by The Invisible

» May inflation at 2.1%
Fri Jun 22, 2018 2:06 am by sashimaal

»  මෙරට විශාලම ආයෝජනය වන හම්බන්තොට වරායේ අවසන් ආයෝජන මුදල වරාය අතට බාර දෙයි
Thu Jun 21, 2018 4:59 pm by Ethical Trader

» CCS.N0000 ( Ceylon Cold Stores)
Thu Jun 21, 2018 4:56 pm by Ethical Trader

» HHL.N0000 ( Hemas Holdings PLC)
Thu Jun 21, 2018 4:48 pm by Ethical Trader

» රුපියල තවදුරටත් පාවීමට ඉඩහැරිය යුතුයි - ජාත්‍යන්තර මූල්‍ය අරමුදල
Thu Jun 21, 2018 7:46 am by serene

» රජයේ සුරැකුම්වලින් රුපියල් බිලියන 2.7 ක විදෙස් ආයෝජන සතියක් තුළ දී ඉවතට
Wed Jun 20, 2018 9:11 am by serene

» ඩොලර් බිලියන 10 යි – මහ බැංකුව ඉතිහාසයේ වැඩිම විදේශ විනිමය සංචිතය ගොඩනගයි
Wed Jun 20, 2018 7:23 am by කිත්සිරි ද සිල්වා

» කිම් - ට්‍රම්ප් හමුව: දෙරටේ නායකයෝ සාකච්ඡා අරඹති
Sun Jun 17, 2018 10:55 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sat Jun 16, 2018 8:20 am by spw19721

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Thu Jun 14, 2018 7:17 am by lanka

July 2018
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
293031    

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Govt. outlines Rs. 11 trillion debt repayment plan

Go down

Govt. outlines Rs. 11 trillion debt repayment plan

Post by sashimaal on Wed Mar 22, 2017 8:23 am

P’ment told of measures to settle payments over 10 years
Pledges to keep House informed of borrowings unlike previous Govt.
Rs. 837 b in loans taken by CPC, RDA and SriLankan not included in public records
Rs. 58.4 b in EPF payments outstanding from ministries and departments, SLTB Rs. 13 b and Highways Rs. 24 b


Prime Minister Ranil Wickremesinghe yesterday disclosed a debt repayment plan stretching over a period of 10 years to settle Rs. 11,000 billion obtained by the previous regime for different purposes.

Responding to a question, Prime Minister Ranil Wickremesinghe updated the Parliament with the anticipated measures to broaden tax collection and narrow the Budget deficit to 3.5% of the GDP by 2020, which will support debt servicing.

The Government will strengthen the revenue collection mechanism.

With the Government expenditure kept at a controlled level, measures will also be taken to prevent an increase in recurrent expenses. A new financial management method will be introduced for this purpose. The Parliament possesses the financial powers and we will not borrow without keeping the House informed. The previous Government followed an arbitrary financial management system where neither the Parliament was kept informed of its borrowing nor were records maintained accordingly,” he said, promising the House that he would table the details of the utilisation of funds if borrowed.

“As at 31 December 2015 total debt stood at Rs. 8,503.2 billion. Foreign debt was Rs. 4,959.2 billion, while local debt was Rs. 3,544 billion. This is 77.6% of the GDP. We have spent Rs. 1,318 billion or 91% of the national income for debt servicing in 2015. During the last 10 years the National Water Supply and Drainage Board, Road Development Authority, Shipping Corporation, Sri Lanka Land Reclamation and Development Corporation, SriLankan Airlines, Ceylon Petroleum Corporation and the Ceylon Electricity Board have obtained direct loans from Hatton National Bank, People’s Bank and DFCC Bank. None of these loans are included in the total public debt records,” he said.

“In 2005, total public debt stood at Rs. 2,222 billion. When the war was over in 2009 public debt escalated to Rs. 4,361 billion. By the end of 2014, it stood at Rs. 7,391 billion. So the total increase in public debt was Rs. 3,230 million during 2009 till 2014. The reason for such an increase during the past period was unknown,” said the Prime Minister.

However, with the change of governments details of loans were placed in the limelight, according to the Prime Minister. “We found how certain loan information was kept out from the public debt calculation. To name a few from a long list, this included the Rs. 365 billion the Ceylon Petroleum Corporation took, Rs. 260 billion the Road Development Authority has obtained and the Rs. 212 billion SriLankan Airlines has taken,” he added.

According to the PM, on the other hand the money that was supposed to be paid was also not met by the previous Government. “The Sri Lanka Transport Board has failed to pay Rs. 13 billion in contributions due to the Employees Provident Fund and the Employees Trust Fund. The departments and ministries owe a further Rs. 58.4 billion. The Ministry of Highways itself alone owes Rs. 24 billion,” explained PM Wickremesinghe. (AH)

- See more at: http://www.ft.lk/article/604864/Govt--o ... mYuTs.dpuf
avatar
sashimaal
Top contributor
Top contributor

Posts : 5655
Join date : 2014-02-28

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum